Good Morning,

Here's a quick preview of today’s content: Ripple stablecoin finds a home, El Salvador President is talking trash to US politicians over crypto, a Detroit man is caught sending crypto to a terrorist group, Tether reveals it has more gold than most 1st world countries, Bitboy looks to be in jail again, and so much more

We are officially in a whole new GREEN territory

Happy Thursday (almost Friday) - Let’s dive in.

Market Snapshot

• Bitcoin broke all time highs surpassing the $112,000 all-time high for the first time on Wednesday, after rising +5.95% during the past week

  • "Crypto feels so quiet, [while] bitcoin is ready to move," wrote Charlie Morris, chief investment officer at ByteTree, in a report

  • Ethereum's ETH surged +6% to $2,760, marking its highest level in almost a month

• Trump easing volatility concerns and continued institutional and corporate adoption has bolstered price in recent weeks

Market Predictions

• Bettors on Kalshi are predicting how high Bitcoin will get to this month - trade your predictions on a range of events, only on Kalshi

• Sign up with code LIT and get a $20 bonus when you trade $100

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Ripple has chose BNY Mellon as the primary custodian for its stablecoin RLUSD (DC)

• Tether reveals it has a $8B gold stockpile in swiss vault (TD)

• New mugshot of popular crypto influencer 'Bitboy' circles the internet causing concern over his new appearance (GZ)

• El Salvador President Nayib Bukele was defending his country's crypto-friendly policies and taunting foreign leaders again on X this week - see full statements here (DC)

• All Franklin Templeton products will one day be onchain, exec says (BW)

• Nvidia stock jumped Wednesday and pushed the company past a $4T market cap, the first company to cross ever (CNBC)

• Pump.fun plans 25% revenue share with token holders (BW)

• Emirates partners with Crypto.com allowing crypto payments for flights (TD)

• NFT volume sank 45% in Q2 (BBG)

• Polymarket controversy heats up after the Zelenskyy suit market resolves (TD)

• Justin Sun commits to buying $100M in Trump-themed memecoins (TB)

• Hacker exploits GMX for $42M in one of the largest DeFi perpetual exchange attacks to date (TB)

• Circle secures revenue-sharing agreement for USDC with Bybit, the second-largest crypto exchange (CD)

• Kraken’s market share rises to 29% as product expansion fuels growth (TB)

• Apple greenlights first iOS game using Bitcoin microtransactions via ZBD (BM)

• H100 Group expands Bitcoin holdings with additional purchase of 46.93 BTC (BM)

• Crypto and political circles react as Trump signals full crypto support in pivot away from SEC push (FT)

• South Korea to extend grant and startup benefits to crypto-focused firms (TB)

Venture Capital

• Japanese public company Remixpoint has raised $215M aimed at expanding its Bitcoin holdings (TD)

• Insomnia Labs, a startup building a blockchain-backed financing platform for digital creators, raised $12M in debt financing from Kamui Finance, Intrinsic Capital, and others (TFN)

• Donald Trump Jr. invests $4M in Bitcoin treasury firm Thumzup Media (BM)

M&A Announcements

• Monad acquires Portal Labs to scale stablecoin payments on high-speed blockchain network (CD)

Launches

• Crypto wallet provider Phantom has introduced "Phantom Perps," a direct perpetual-futures trading feature powered by Hyperliquid (TD)

• Polygon plans to activate its Heimdall v2 hard fork on 10 July, aiming to cut transaction finality on the proof-of-stake network to about five seconds and more (TD)

Regulation

• U.S. House drops its stablecoin bill to support Trump-aligned Senate version instead (CD)

• New Zealand is banning crypto ATMs and capping international cash transfers at $5,000 (DC)

• SEC's 'crypto mom' says tokenized securities are still securities (RT)

• Sen. John Kennedy (R-LA) was skeptical about allowing the crypto industry to write its own rules, saying that when Congress allowed tech giants to do the same, the result looked "like somebody knocked over a urine sample." (DC)

Cybersecurity

• Federal prosecutors charge two OmegaPro executives with running a $650M crypto scam masked as a forex investment platform (DC)

• Detroit man has pleaded guilty to providing material support to ISIS using crypto donations (DC)

Extra Reads

• Which countries secretly own the most Bitcoin beyond the US and China - the full list here

• Bitcoin's long-term investors now hold 80% of all BTC in circulation - Here’s why Bitcoin’s price gained 72% and 84% the last two times BTC holders did this

Chart of the Day

Bitcoin flew from 109,000 to breaking all time highs in a matter or hours

Meme Dump

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